Guaranteed Asset Protection (GAP) offers you the peace of mind of knowing that you will be covered for the difference between the actual cash value of your vehicle and the loan balance.
Let’s say a month after you drive your new vehicle off the showroom floor, you are involved in an accident. You’re okay, but your car is declared “totaled.” Since vehicles depreciate 10-15% the moment you drive them off the lot, you may be surprised to learn the settlement amount received from your insurance company is the actual cash or market value of your vehicle, which may be less than what you owe the lender or lease company. You are responsible for the difference.

Sounds incredible, but it's true. You could be risking some big financial losses, especially in the early years of financing your vehicle. During the first year or two of your loan payments, you are at risk of a danger most people don't think about - at "gap" in value.

Guaranteed Asset Protection (GAP) pays the difference between the amount your insurer will pay and the amount you still owe on your loan up to 125%. It protects you from having to continue making payments on a vehicle that you no longer have in your possession.

 GAP Protection can cover this “gap” for you.

• Covers losses that your primary insurance may not
• One vehicle is stolen in the U.S. every 27 seconds
• Every year a half million vehicles are totaled to accident, fire, and theft.

GAP Protection is available for a nominal cost and can be rolled into your loan payment. For more information, please call Michelle at 715-732-4051 or stop in to talk with her.